MERREX GOLD INC. TSX.V: MXI • OTCQX: MXGIF Contact: Laurie Vaughan Director, Corporate Affairs 802-1550 Bedford Highway Bedford, NS Canada B4A 1E6 Phone: 902-832-5555 Fax: 902-832-2223 E-Mail: info@merrexgold.com Web Site: www.merrexgold.com Shares Outstanding: 118.9 million Active Float: ~100 million 52 Week Trading Range: Canada: Hi: C$0.65 • Low: C$0.25 U.S.: Hi: $0.6281 • Low: $0.02420

       Merrex’s Siribaya Gold Project is located in the western part of Mali near its border with Guinea and Senegal. Mali is considered one of the strongest democracies in Africa ranking low in geopolitical risk, and at over 50 tonnes per year it is the third largest gold producer in Africa.
       At 327 square miles (848 square kilometers), the Siribaya Gold Project is the largest contiguous gold exploration package in Mali. Since 2005, Merrex has advanced the project from a grassroots discovery to an advanced gold exploration project with good grade and IAMGOLD-sized tonnage potential. More than 100 kilometers of gold anomalous structures have been identified to date, with many yet to be explored.
       Merrex’s exploration focus, the Siribaya mega-structure, is actually two parallel substructures, with significant gold mineralization extending for more than 10 kilometers along strike.
       Initial diamond drilling intersected significant intervals at ore grades, particularly at Zone 1B where a 2008 independent NI 43-101 resource estimate confirmed a gold resource of 123,000 oz. Indicated and 319,000 oz Inferred.
       The NI 43-101 resource estimate was updated in 2010 to 4,015,000 tonnes grading 2.39 g/t Indicated (308,200 oz Au) and 946,000 tonnes grading 2.29 g/t Inferred (69,500 oz Au). Since the estimate was based on data gathered along 800 meters of Zone 1B and only 50 meters of Zone 1A, and both zones are open to the north and south for over ten kilometers within the parallel substructures as well as at depth, there is a clear potential for a very significant open-pit gold resource at Siribaya.
       More than $18 million has been spent to date at the Siribaya Gold Project. The Faleme River crosses the property, providing ample water for both exploration and mining. A permanent, well equipped exploration camp adjacent to the town of Berekegni is accessed via dirt road during the dry season from Kenieba, a town about 50 km to the north, which is linked to the wider world by both rail and a government-owned airstrip serviced by regular and charter flights.
       “We are on the prolific West Africa Gold Belt with very low discovery costs,” says Isenor. “We are targeting a gold resource of between 2 and 4 million ounces in the Siribaya mega-structure – and there is real potential for additional gold discoveries at multiple locations within the land package.”

       The 2011 drilling program at Siribaya has been completed.
       10,000 meters of diamond drilling, including infill drilling within the Zone 1B resource area, expansion drilling to the north and south of Zone 1B, and targeted drilling within the 1A substructure in the northern extension of Zone 1A will lead to an updated and certainly larger resource estimate in 2012.
       30,000 meters of RC drilling has confirmed that both the 1A and 1B substructures are well-mineralized with strong continuity. Most recent RC drilling in the southern portion of the Zone 1A substructure intersected assays as high as 19.09 g/t Au over 8 meters and 20.9 g/t Au over 1 meter.
       “We have a six kilometer drill-evidenced mineralized footprint within both substructures now,” says Isenor. “We have evidence of gold mineralization in the northern areas as well, and expect that the footprint will be established over the full 10.5 kilometers of strike of the twin Siribaya structures by the end of 2012. The RC footprint will assist with more precise cost-effective diamond drilling of the resource.”
       The most recent Diamond Drill assay results from Zone 1B are exciting with intersections like 2.15 g/t Au over 37 meters and 3.61 g/t Au over 12 meters.
       “Based on current drill results, it appears that the 2011 diamond drill program will be adding ounces to our existing resource,” says Isenor. “The results are what we were anticipating.”

       Merrex’s Bambadinka Trend, which lies just west of the main Siribaya mega-structure, is a high priority exploration target for 2012. The large zone is about 10 kilometers long by 1 kilometer wide and hosts numerous gold-in-soil anomalies.
       Following a successful termite mound geochemical survey, 9,000 meters of mechanized auger drilling in 2011 confirmed this significant new gold trend, returning gold intersections in both the surface laterite and the near-surface in situ saprolite bedrock at various locations along the trend. Assays range as high as 3.40 g/t over 4.5 meters from the laterite and 2.56 g/t over 4.5 meters from the saprolite rock.
       “The assay results from the auger drill program confirm the 10 kilometer strike extent of the gold trend at Bambadinka,” says Isenor. “I am pleased that Merrex has a new, significant and extensive priority target to test with drilling.”

       That Merrex has made major strides in advancing its Mali property and attracted IAMGOLD as a partner should come as no surprise, considering the impressive track record of its leaders.
       Merrex President and CEO Greg Isenor sold his prior company, Jilbey Gold Inc. to High River Gold Mines Ltd. in 2004, after proving up the now million ounce Bissa Deposit in Burkina Faso. Isenor then partnered with Vancouver securities lawyer John Cumming, now Merrex Vice President, focusing on an unexplored area south of the Faleme River and discovering Siribaya.
       Cumming was a founding shareholder of St. Philips Resources Inc. and, in a JV with the Hunter Dickenson Group, found the Kemess Gold Copper Mine which was sold in 1996 in a $200 million take-over bid. The Kemess Mine is the principal asset of Northgate Minerals Corporation and has produced over 2.7 million ounces of gold since 2000.
       Jean-Marc Gagnon, Merrex’s Mali Exploration Manager, is an expert in managing drilling programs in West Africa and South Africa. Previously he was general manager and consultant to a number of international mining companies, including Emerging Africa Gold, Major Drilling International and Golden Star Resources Ltd.

       In summary, Merrex is a Mali focused gold exploration company with experienced management, a solid exploration team, a prominent gold-producer as a partner and an expanding gold resource – a potentially winning combination that offers investors an intriguing opportunity to get into a strong African gold play at the front end.
       Earlier this year, Merrex Gold closed both a $10.1 million brokered private financing and $4.25 million of private placements with IAMGOLD, giving the company enough money to cover its exploration costs at the Siribaya Gold Project through to 2013.
       Merrex Gold also recently expanded its stock trading into the United States, joining the OTCQX, the highest tier in the U.S. over the counter marketplace.
       “As Merrex’s Siribaya Gold Project continues to mature, so too should our corporate visibility,” says Isenor. “In our last financing, Merrex received significant investment from U.S. based institutions and we received large numbers of inquiries from potential U.S. investors. We think Siribaya is one of the most exciting gold discovery stories in Mali and the investment case for Merrex is very sound.”